Press Releases

WASHINGTON -- The Consumer Financial Protection Bureau is distributing $80 million in settlement proceeds from its enforcement action against Ally Financial and its subsidiary Ally Bank without verifying that recipients are eligible to receive the money.  The result is some white borrowers are getting settlement checks over alleged racial discrimination against African-Americans,… Read more »

WASHINGTON — Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement in response to President Obama’s State of the Union Address. “Given that President Obama used tonight’s State of the Union to take a rhetorical victory lap, the speech should have lasted about two minutes rather than over an hour. The American people feel no victory in… Read more »

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s hearing schedule for the week of January 11th. Tuesday, January 12 at 10:00 A.M. - The Housing and Insurance Subcommittee will hold a hearing to discuss opportunities and challenges facing the National Flood Insurance Program.  Wednesday, January 13 at 9:15 A.M. –… Read more »

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement on the death of former Financial Services Committee Chairman Mike Oxley: “I want to extend my deepest sympathy to the Oxley Family during this difficult time. Mike will always be known as an accomplished Member who served his constituents and the House well, especially during his… Read more »

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement about the Federal Reserve’s decision to raise its benchmark interest rate from near zero, where it has been since 2008: “The real question isn’t whether the Fed should be raising interest rates or lowering interest rates; it’s whether the Fed is giving our economy sustainable interest… Read more »

The Consumer Financial Protection Bureau (CFPB) has undertaken a dozen large-scale data collection efforts, gathering highly sensitive information on millions of American consumers even as the Bureau’s director has acknowledged that data held by the CFPB is “not 100 percent secure.” The Financial Services Oversight and Investigations Subcommittee held a hearing today… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the Committee’s schedule for this week.  Wednesday, December 16 at 10:30 a.m. - The Oversight and Investigations Subcommittee will hold a hearing to examine the Consumer Financial Protection Bureau’s Mass Data Collection Program.   In a report last year,… Read more »

Congressman David Scott recently lambasted the Consumer Financial Protection Bureau for its “deceitful” auto-loan regulation based on “shamefully flawed” information. Now it looks like the Georgia Democrat was being kind. The Republican staff of the House Financial Services Committee has released a trove of documents showing that… Read more »

WASHINGTON - The Financial Services Committee today approved several bipartisan measures designed to protect consumers, grow the economy, strengthen government transparency and help lead the fight against terrorists. “I am proud that the Financial Services Committee continues to pass bipartisan legislation, all focused on the priorities of the American people.  These bills can… Read more »

“FSOC typifies not only the shadow regulatory system but also the unfair Washington system that Americans have come to fear and loathe:  powerful government administrators, secretive government meetings, arbitrary rules, and unchecked power to punish or reward. Thus, oversight and reform is paramount." WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX)… Read more »